Business
India's Mazagon Dock Chief Named Colombo Dockyard Chairman After MDL Takeover
Capt. (Retd.) Jagmohan, chairman of India's Mazagon Dock Shipbuilders, has been named non-executive chairman of Colombo Dockyard after MDL's 51% takeover.
Business
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Business
Colombo Stocks Close Down 0.33% Despite IMF Staff-Level Agreement
CSE closes 0.33% lower on global uncertainty despite IMF staff-level agreement; NDB recovers 3.41%; Cargills rights issue shares listed.
Business
Colombo Stocks Slip 0.72% at Midday Despite IMF Deal; NDB Leads Gainers
ASPI falls 157.96 points at midday April 9 as Middle East flare-up offsets positive IMF news; NDB, LB Finance and Janashakthi lead the rebound.
Business
Early April Tourist Arrivals Drop 22% as Middle East Conflict Disrupts Travel
Sri Lanka recorded 39,627 tourist arrivals in the first eight days of April, down 22% from the same period last year, Daily FT reports.
Business
IMF Mission Chief Says Fund Is 'Watching NDB Fraud Carefully'
Evan Papageorgiou confirms IMF is in active dialogue with CBSL over the Rs. 13.2bn NDB fraud, backs the Central Bank's 'contained, not systemic' assessment.
Business
IMF Flags New Electricity Tariff Submission, Signals Board Decision by Early June
IMF Mission Chief Papageorgiou says Sri Lanka needs a fresh Q2 tariff filing after the Middle East shock; Board approval expected by early June.
Business
Sri Lanka to Sign IMF Staff-Level Agreement Today, $700M Disbursement Due Before May End
President Dissanayake confirms combined fifth and sixth review tranches will be released before end-May, alongside $1.2bn in ADB assistance this year.
Business
JXG IPO Oversubscribed on Opening Day, Fully Closes With Rs. 5bn Raised
Janashakthi Group's new holding company JXG closed its CSE listing offer fully subscribed within hours of opening, raising the targeted Rs. 5 billion.
Business
Karunanayake: Outdated Forex Rules Hobbling Tourism, Digital Services and SME Exports
NDF MP urges Finance Ministry to modernise Sri Lanka's foreign exchange and payments framework to capture new tourist and digital entrepreneur inflows.
Business
Parliamentary Committee Calls NDB Rs. 13.2bn Fraud a Serious Breach of Banking Governance
COPF chair Harsha de Silva calls the NDB Rs. 13.2bn fraud a serious governance breach; CBSL confirms capital and liquidity ratios remain adequate.
Business
Oil Prices Surge as Traders Doubt US-Iran Ceasefire Will Hold
Brent crude rose 2.74% to $97.35 and WTI climbed 3.2% on April 9 as traders reassessed the durability of the Pakistan-brokered US-Iran ceasefire.
Business
Vehicle Registration Delays Stretch to Seven Days as RMV System Buckles
Importers warn one-day service now takes six to seven working days after February 2025 import reopening pushed monthly registrations above 30,000.
Business
Ceylon Chamber Names Shiran Fernando Secretary General and CEO From May
Chief Economic Policy Advisor Shiran Fernando will succeed Buwanekabahu Perera from 8 May in a planned leadership transition.
Business
Over 200,000 SMEs Ceased Operations Between 2018 and 2022, Deputy Minister Says
Deputy Finance Minister Anil Jayantha Fernando cites SME collapse figure as evidence of the structural damage underlying the 2022 economic crisis.
Business
Rupee Weakens, Long-End Bond Yields Rise Despite IMF Deal
Rupee closed at 315.55/65 Thursday; long-end bond yields up; Treasury sold Rs 82.09bn of Rs 100bn offered in 2030-2037 bond auction.
Business
Revised Filing Seeks 53% Electricity Tariff Hike as Coal Crisis Drives Rs. 40bn Cost Surge
Island report says the revised NSO filing values the April–June burden at Rs. 40bn, roughly half of it directly linked to substandard coal imports.
Business
Tea Fertilizer QR Scheme Doubles Farmer Reach in Six Months, Beats Full-Year Targets
Sri Lanka's subsidised tea fertiliser scheme delivered 21,117 tonnes to 187,759 growers since October — more than double last year's annual totals.
Business
Vidullanka Buys Bhoruka Power Lanka, Taking Portfolio to 26 Projects
Listed renewable group acquires 100% of 4.5MW Aranayake mini hydro as part of diversification push into solar, wind and battery storage.
Business
Banquet and Catering Prices to Rise 15-20% from May, Industry Body Says
Banquet Owners' Association cites fuel crisis, VAT and raw material costs for the hike. Existing bookings will see a 10 percent surcharge from May.
Business
CAA Raids Dambulla Economic Centre Over Rice Price Violations Ahead of Avurudu
Multiple traders found selling rice above approved rates as Consumer Affairs Authority enforces island-wide pre-New Year price controls.
Business
Castlereigh and Maussakelle Reservoirs Drop Sharply as Dry Weather Hits Hydropower
Water levels at two key upcountry reservoirs have fallen sharply in dry weather, threatening output at five hydropower plants on the Kelani system.
Business
CBSL Will Force Bank Mergers If Industry Won't Consolidate, Governor Warns
CBSL Governor Weerasinghe says the regulator will mandate mergers if banks fail to strengthen balance sheets within the consolidation framework window.
Business
Sri Lanka's Official Reserves Fall 3.5% to $7 Billion in March
CBSL data shows reserves down $251 million as Middle East energy shock weighs on import bill; figure includes China swap line.
Business
Colombo Dockyard Signs Maritime Cooperation MoU With India's DCI
Colombo Dockyard has signed a cooperation MoU with India's state-owned Dredging Corporation of India, opening access to the larger Indian maritime market.